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What is Bankruptcy Court?
Bankruptcy court is a special judicial proceeding which determines how a debtor can settle accounts and move on. Bankruptcy courts are always federal, and not state, courts.
They were established in the Constitution and given structure by the Bankruptcy Reform Act of 1978. They give debtors a means of moving beyond debts that cannot be fully repaid.
There are several kinds of bankruptcy filings (found here — ‘chapter 7-15’, some for individuals, some for businesses, some involving foreign entities or persons operating in the US. Some are for absolution and the dissolution of a business entity, and other filings are requests for partial debt forgiveness and reorganization of the entity.
Certain attorneys focus on bankruptcy law, and it can be valuable to have an experienced and specialized bankruptcy attorney in such proceedings. Types of bankruptcy filings that you might have heard of before are Chapter 11, Chapter 9, Chapter 7, and Chapter 13.
Can I Take Loans Against My 401(k)?
401(k) plans typically allow loans to be taken, so that investors don’t have to pay taxes or an early-withdrawal penalty
What are the Contribution Deadlines for My Keogh Plan?
Generally the deadline for contributions is the tax filing deadline, with extensions
What will Long-Term Care Insurance Cover?
Long-term care insurance is designed to pay benefits for the elderly in need of daily medical services, such as...
What is the Symmetrical Triangle Top (Bearish) Pattern?
The Symmetrical Triangle Top pattern forms when a stock price fails to retest a high or low and forms two trend lines
How Do You Calculate Mining Profitability?
Mining for cryptocurrency may or may not be profitable for you, but the good news is that you can easily run the numbers
What does net long mean?
Net long means to own more long positions than short positions. Being long means to own a security or derivative
What is Return on Assets?
Return on Assets is an efficiency ratio which quantifies how much profit a company can generate with the assets it has
What is the FCC?
The Federal Communications Commission is a bipartisan regulatory body that oversees interstate communications media
What is a Financial Advisor?
The term "Financial Advisor" applies to professionals who are compensated for helping to implement investment strategies
Should I pay for financial planning services?
Any professional that you work with for financial planning is going to be compensated for the work they do, but there...